saintclaire87 (saintclaire87) wrote in ohnotheydidnt,

The Cheesecake Factory tells landlords it will not be paying rents on April 1

The Cheesecake Factory says it will not be able to make upcoming rent payments for any of its storefronts on April 1 because of significant loss of income due to the coronavirus crisis.

Cheesecake Factory’s affiliated restaurants, such as Rock Sugar and North Italia, will also not make April 1 rent payments.

The company's chairman and CEO David Overton released a statment. Overton said that the company had to close several restaurants and is relying on delivery/carryout orders. He said that the decrease in customers has caused a serious financial blow to the business. Overton also asked for their landlords patience and understanding. He said that they hope to be able to make their payments as soon as they can.

Tags: covid-19, food / food industry
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Their food is meh to bad but they have the best happy hour for a chain. I’m surprise they went this route but I hope other companies plan to do the same until there’s a policy for rent freeze over this.
They could pay it if they really wanted to. Just don’t want to eat into their profit margins too much.
damn I've never been to Cheesecake Factory, have I missed my chance?
It's honestly so disgusting. I too received the *don't forget rent is due on the 1st and there are no waived late fees :)* email.

Fuck landlords. Yes, all of them. I the only one that thinks a restaurant chain not paying rent is different than people not paying rent?
Meanwhile I got mail from taxes yesterday how my rental company asked for my income because they want to raise the rent around July but no more than 5%!!

Read the room, company.
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